President of the Board of Directors NAIOP Northern Nevada and Chief Operating Officer Tolles Development
Type of Business: Commercial Real Estate Development
Based: Reno
Hails from: Reno
Years Org. has been in Nevada: 7
Years with Organization in Nevada: 7
Employees in NV: 15
How did you get into your profession?
My journey into the real estate industry began with a summer internship at Dermody Properties after graduating from the University of Nevada, Reno. During my internship I found a love for the business and the people in it – and was hooked. I now serve as a partner and chief operating officer of Tolles Development and as the president of the Board of Directors for NAIOP Northern Nevada.
What has been instrumental to your success?
Having a stable of excellent mentors, both in and outside of the business, has been the cornerstone of success. I also had good timing, I started in the real estate business at the worst possible time in 2009 – if you can establish your career in a market downturn, there’s a pretty good chance for success.
What is an issue currently facing your industry?
In Nevada, we’ve been underbuilt in industrial, multifamily and homes for the last 15 years and we still have a way to go before our supply/demand equation returns to a normal health level.
What college-level course would you teach?
I would teach a course about common sense financial underwriting for real estate projects. There’s some very simple terminology, and very important basic math that is fundamental for all development. Some shops emphasize a lot of technical wizardry, but the basics are the most important.
What was the most difficult experience you encountered as a leader?
The most difficult experience as a leader was navigating our retail and office portfolios through COVID. Overnight we had massive uncertainty for our tenant’s ability to pay rent, and for our ability to pay our mortgage. We were also right in the middle of opening the Village at Rancharrah, a 105,000 square foot retail and office lifestyle center – the two sectors of real estate that were hit the hardest by the pandemic.
What career advice would you give to someone just starting in your industry?
For beginners in commercial real estate, build relationships and network. Attend events, join local organizations, and connect with others. Stay current with market trends and keep learning. Be patient and persistent, work hard and read industry news.
